Dollar advances to new high at Rs173.96

Dollar advances to new high at Rs173.96

KARACHI: The Pak Rupee (PKR) fell by 49 paisas on Thursday as the dollar advanced to make a new high at Rs173.96.

The rupee ended at Rs173.96 to the dollar from the previous day’s closing of Rs173.47 in interbank foreign exchange market.

Currency experts said that volatile situations push the dollar to hit Rs174 during intraday trade.

The currency dealers said that the massive widening of the current account deficit had also had a negative impact on rupee/dollar parity.

The current account deficit ballooned to $3.4 billion during July – September 2021 as compared with a surplus of $865 million in the corresponding period of the last fiscal year, according to the SBP.

The import bill showed a 66.11 per cent growth to $18.74 billion during the first quarter of the current fiscal year as compared with $11.28 billion in the corresponding quarter of the last fiscal year.

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